French GDP growth to slow to 0.3% in Q3, Central Bank says

19:22, September 08, 2010      

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French gross output will grow by 0.3 percent in the third quarter, slower than last quarter's 0.6 percent increase, the Bank of France predicted Wednesday.

This was the Central Bank's second estimation on third quarter's growth, which remained unchanged from its prediction a month before when official figures showed that French industrial activity increased a little bit but still lacked considerable momentum.

French national statistics bureau Insee has posted a 0.6-percent growth for the second quarter, which made the government's 2010 target of 1.4-percent yearly growth more reachable.

To meet the target, French economy has to realize a quarterly growth at least by 0.2 percent both for the third and fourth quarter, the Economy Minister Christine Lagarde said recently. Insee has forecasted 0.4 percent growth in the third quarter.

French administration has injected large mounts of cash to boost economic growth, which meanwhile left high level of debt threatening long-term growth. The European second largest economy's public debt has piled to 80.3 percent of national output in the first quarter of 2010, according to Insee report.

Source: Xinhua

(Editor:王千原雪)

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